Search form

Search form

Further affirmations from Beijing on China's growth outlook and a subdued housing report from the U.S. pointing to extended Fed stimulus helped lift shares across Asia on Tuesday. The Nikkei rose 0.82% to 14,778.51, the Hang Seng surged 2.33% to 21,915.42, the Kospi added 1.27% to 1,904.15 and the S&P/ASX was up 0.30% to 5,017.10.

Related Summaries

Manufacturing and tourism are likely to be most affected among Singapore's industries as China's economy slows, according to DBS Bank. "While Singapore has benefited greatly from a strategy of engagement with this East Asian dragon over the years, it has also made itself susceptible to the economic cycle within China," said DBS senior economist Irvin Seah.

Chinese Premier Li Keqiang said the nation's growth policy is now "forward-looking and targeted," which means fluctuations can be expected. Nonetheless, Yu Yongding, an economist at the Chinese Academy of Social Sciences, said China's economy "has not broken the bottom line" of projected growth of 7% to 8% this year.

The French economy appears to have grown 0.2% in the second quarter, ending a brief recession, Finance Minister Pierre Moscovici said, citing new industrial figures from the national statistics office. The return to growth would reverse a 0.2% contraction in the first quarter.

South Korea's Financial Supervisory Service plans to spin off its Financial Consumer Protection Agency as a separate entity. The new agency will focus more on serving the interests of small individual investors.